Austrian oil and gas group OMV signed a concession agreement with Abu Dhabi National Oil Company (ADNOC) for a 5 percent stake in the Ghasha offshore gas and condensate fields, strengthening its position in the region, it said on Wednesday.
The Ghasha project consists of the three major gas and condensate development projects - Hail, Ghasha and Dalma - as well as other offshore oil, gas and condensate fields, including Nasr, SARB and Mubarraz, OMV said.
(Reporting by Kirsti Knolle, editing by Louise Heavens)
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